Financial Controller

About Godrej & Boyce

Godrej is one of India’s oldest, most trusted and respected brands.

Our founders, Ardeshir and Pirojsha Godrej started the journey in 1897 with Engineering excellence and a strong pioneering spirit, towards making India self-reliant.

Godrej & Boyce (G&B) positively impacts the lives of one-third of India’s population through its diverse presence across 10 industries – from building complex bespoke engineering solutions to making branded consumer goods like appliances, furniture, locks and security solutions. With over 14,000 committed employees working in 14 diverse businesses offering consumer, office and industrial products & services of the highest quality across India and across the globe.

The ideal candidate will be responsible for ensuring consistent corporate financial strategy through a range of avenues such as managing and allocating accounts, financial statements, and tax data. The candidate will also be the point of contact for banks, auditors, and tax authorities.

Responsibilities

• Prepare and analyze monthly revenue and margin MIS, detailed analysis of variances.
• Guiding LOB head to ensure achievement of Profit objective by advising and controlling the Utilization of Financial Resources like Revenue vs Cost reporting, Working Capital Deployment, Expense Control, Fixed Costs monitoring and Reporting.
• Prepare and analyse periodic revenue and margin estimates (minimum quarterly), detailed analysis of cost to complete (CTC), variance analysis thereof.
• Forecasting and analyzing the cost comparison between tender level and zero based budget costing and project cost during execution and reasons for variances.
• Suggest & implement measures for cost reduction and tighter cost control measures by monitoring and analysing actuals vs budget with detailed activity wise on monthly basis.
• Price Variation (PV) Bill Calculation, System Billing and collection from Client.
• Strong collection drive, internally within team and cross functional team and meeting customer for collection.
• Ensure review of revenue and cost GLs on monthly basis, accounting of transactions are complete and accurate for preparation of Revenue and Margin MIS;
• Ensure maximum utilization of ERP, immediate accounting of transactions in ERP without any delay.
• Review and analyse debtors and unbilled receivable, review aging report, reasons for overdue receivable / unbilled revenue for more than 30 days.
• Ensure invoices are raised on client immediately upon completion of relevant milestone, follow up with concerned personnel for receipt of documents / approvals to ensure timely billing.
• Timely estimation of fund requirement & maintaining cash flows for projects to ensure smooth functioning of the project. Ensure maintenance of bank accounts, accounting of bank receipts/ payments in time, preparation of bank reconciliation.
• Ensuring detailed Financial Planning for all the LOBs in terms of the numbers on Revenue, Variable costs, Variable Contribution, Fixed Costs, Profit, EBIT & ROI + Cash Flow.
• Ensuring strong governance processes and compliance with all applicable statute.
• Ensure Direct and Indirect Tax compliances and Insurance, Coordinate with site commercial team / consultant on the taxation matters / tax notices.
• Ensuring Legal Compliance and coordinate with site commercial team / HO legal team regarding legal cases filed against or by the Company.
• Collaborating with External and Internal Auditors, Statutory authorities, Customers ,Bankers, GST department and Accounts teams for any Finance related issues which need Resolution.
• Institutionalizing Risk Management across the Division
• Ensure balances with sub-contractors / suppliers are reviewed and monitored and appropriate timely debits are raised and collected if any.
• Designing, Reviewing & Strengthening Internal Controls and Financial Processes followed in the project environment involving high risk exposure areas like Recognition of Revenue and correct estimation of CTC.
• Ensuring formulation of Control Processes for FOC expenses, Stocks Accounting, Project wise Reporting, Audit Checks and Balances wherever required.
• Identifying and assessment of Financial cum Operational Risks involved in business operations like longer duration Projects, Costs Escalations, Contributions Margins and Steady State Cash Flows.
• Working Capital Management (Inventory & Debtors & Creditors - Regular monitoring and review of Project Inventory at sites along with greater focus on Collections from Customers to ensure healthy CASH FLOW.
• Review GL / customer / vendor accounts every month and have rectification entries passed, if any.
• Carryout site visits on regular basis, review the progress and performance and highlight areas of concerns, if any.
• Any other work as allocated by reporting Manager from time to time.
• Ensuring that the culture of Business Excellence is implemented to the Project teams and the teams participate in various initiatives taken by the Organization.
• Building a Culture where each Project employee understands the Financial Implications of their actions would go a long way in making the LOB profitable.

Qualifications

• CA or ICWA
• Preferred :MBA Finance
• Experience in EPC project industry preferred
• 10 to 15 years of experience

Soft Skills:

• Initiative and adaptability
• Assertiveness and Independence
• Decision making
• People Management
• Analytical Ability
• Process Orientation / Promoting Process Improvement / Digitization
• Effective Communication
• Knowledge of ERP software, Advanced Excel
• Financial Planning & Strategy, Managing Profitability.